Rosslyn Data Regulatory News (RDT)

21 August 2024 

Rosslyn Data Technologies plc 

("Rosslyn" or the "Company") 

Major New Client Win

Rosslyn appointed by Top 10 global technology company

Initial contract worth minimum of £2 million over three years

Rosslyn (AIM: RDT), the provider of a leading cloud-based enterprise spend intelligence platform, is pleased to announce that it has won a new three-year contract (the "Contract") with one of the world's largest technology companies (the "Customer"), which has a minimum revenue value of £2 million and also brings further possible growth opportunities through expansion into the Customer's other divisions and operations. The Customer and Rosslyn are also engaging in a co-innovation partnership for enhanced technology development.

The Customer, headquartered in the US, is a multinational technology company, a global household name and one of the top-10 Fortune 100 companies. The Customer provides, inter alia, cloud services and is engaged in activities such as e-commerce, online advertising, digital streaming and artificial intelligence ("AI"). This initial contract is with the Customer's central procurement division and, upon successful deployment, has potential to expand to at least a further ten departments. The Contract will generate a minimum of £2 million of revenue over the three-year term, of which £700k will be received in the Company's current financial year.

The Contract was awarded to Rosslyn following an extensive nine month competitive tender process, after the Customer had taken the strategic decision to appoint an external provider rather than developing an in-house solution. The Company's management believe this represents one of the largest investments the Customer's procurement division has made to-date in third-party software. The Customer was attracted by, amongst other factors, Rosslyn's agility and also the development work being undertaken, based on Rosslyn's AI solution, to automate the data classification process and to establish an enterprise-grade procurement data lake. Accordingly, the Customer and Rosslyn have also established a co-innovation partnership, with the Customer providing funding for the development of next-generation technology, including AI elements, to enhance Rosslyn's platform.

Paul Watts, CEO of Rosslyn, said: "This is a fantastic new customer win for Rosslyn, and a contract of substantial commercial value and transformational impact with significant growth potential. To be appointed by an organisation of this magnitude is a huge endorsement of our offering. It is also an important validation of our AI strategy, which was a key factor in determining the outcome of the competitive tender process - and which is further demonstrated by the Customer engaging in, and funding, a co-innovation partnership with us. As expected with a customer of this calibre, it has been a complex and lengthy appointment process to which we have dedicated significant resources. As a result, we have established extremely strong foundations for our relationship with them and look forward to building on this and expanding our partnership to further opportunities in the future."

This announcement contains inside information.

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About Rosslyn

Rosslyn (AIM: RDT) provides an award-winning spend intelligence and predictive analytics platform. The Rosslyn Platform helps organizations with diverse supply chains mitigate risk and make informed strategic decisions. It leverages automated workflows, artificial intelligence and machine learning to extract and consolidate procurement data providing visibility of complex supplier data, enabling supplier spend savings and delivering rapid ROI. For more information visit www.rosslyn.ai. Investors wishing to contact the Company should email investors@rosslyn.ai.